HAMILTON, Bermuda, March 29 /PRNewswire-FirstCall/ -- Central European Media Enterprises Ltd. ("CME") (Nasdaq/Prague Stock Exchange: CETV) today announced that it has closed its public offering of 2,530,000 shares of its Class A Common Stock at a price of $70 per share, which includes 330,000 shares issued upon exercise by the underwriters of their over-allotment option. The Company received net proceeds of approximately $168.6 million from the offering. Proceeds will be used for general corporate purposes, including the possible acquisition of additional shareholdings in the Company's current operations, further investment in the expansion of existing operations and investment in the development of new revenue opportunities.
"We are extremely pleased to have generated so much investment demand for our equity offering. It's a recognition of CME's strong position in one of the fastest growing regions in the world," said Michael Garin, CME's Chief Executive Officer. "This offering expanded our shareholder base across Europe, specifically among Eastern European investors, with 45 percent of the shares allocated to investors in Europe, of which 14 percent were allocated to investors in Eastern Europe. We wish to welcome all of our new shareholders and thank our long-term investors for their continued support."
J.P. Morgan Securities Ltd., Lehman Brothers Inc. and ING Bank N.V., London Branch acted as joint bookrunners. Ceska sporitelna, a.s. was the lead manager of shares sold to institutional investors in the Czech Republic and Central and Eastern Europe.
CME is a TV broadcasting company with leading networks in six Central and Eastern European countries reaching an aggregate of approximately 82 million people. The Company's television stations are located in Croatia (Nova TV), Czech Republic (TV Nova, Galaxie Sport), Romania (PRO TV, Acasa, PRO Cinema), Slovakia (Markiza), Slovenia (POP TV, Kanal A) and Ukraine (Studio 1+1). CME is traded on the NASDAQ and the Prague Stock Exchange under the ticker symbol "CETV".
For additional information, please visit http://www.cetv-net.com/
